For Sale
$1,519,608

504 Meighan BlvdGadsden, AL 35903

High-performing, NNN ground lease. Excellent location.

Overview

Added:
Dec 11, 2024
Days on market:
114
This exceptional investment opportunity presents a 2,671 square foot Krispy Kreme restaurant located at 504 E Meighan Blvd, Gadsden, Alabama, 35903. The property sits on a 1.31-acre lot and boasts a strong financial performance, with a Net Operating Income (NOI) of $77,500 and a 5.10% cap rate. Built in 2015, this state-of-the-art facility includes a drive-thru and is currently operating at 100% occupancy under a single-tenant, absolute NNN ground lease with Krispy Kreme, Inc. The lease commenced October 1, 2015, and expires September 30, 2032, with four, five-year renewal options remaining. The asking price is $1,519,608, representing a price per square foot of $568.93. This prime retail location is situated in a high-traffic area, benefiting from its proximity to a top-performing Walmart, River Trace shopping center (anchored by Hobby Lobby, Ross, Five Below, and Shoe Carnival), and Coosa Town Center (anchored by T.J. Maxx, Old Navy, and Bealls). The property enjoys significant daily traffic volume on E Meighan Boulevard, exceeding 35,000 cars. Furthermore, its adjacency to Gadsden Regional Medical Center further enhances its visibility and accessibility. This investment offers a secure, long-term lease with a nationally recognized brand in a thriving retail corridor.

Highlights

  • Low rent, corporate-guaranteed Krispy Kreme ground lease with ~8 years remaining in Gadsden, AL (near Birmingham).
  • Conservative net rent: $77,500 ($29.02/SF), with four 5-year options.
  • Absolute NNN ground lease on 1.3+ acres.
  • 2,671 SF, state-of-the-art, 2015 construction with drive-thru.
  • Strong tenant: Krispy Kreme, Inc. (established 1937, 2,200+ locations globally, $1.68B+ 2023 revenue).
  • Prime Gadsden location: River Trace outparcel (Hobby Lobby, Ross, Five Below, Shoe Carnival; 1.5M+ annual visitors).

Property Details for 504 Meighan Blvd

Property type
Retail properties, Restaurants
Square Feet
2,671 SF
Year Built
2015
Lot Size (sq. ft)
57,064 SF

Location Insight

City
Gadsden
County
Etowah
State
Alabama
Latitude
34.0091794
Longitude
-85.9854226
504 Meighan Blvd, Gadsden, Alabama

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504 Meighan Blvd
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